As a part of this initiative, SSCalong with the co-investment partners will co-invest in Singapore-based deep technology (deep tech) startups in Advanced Manufacturing & Engineering (AME), Health & Biomedical Sciences (HBMS), and Urban Solutions & Sustainability (USS). These sectors are aligned with the core domains of Singapore’s roadmap for research and development, under the Research, Innovation and Enterprise (RIE) 2020 plan.

Through this partnership with the private sector investors, SSC is committing up to S$100 million under the RIE2020 budget. The amount will be matched by private capital raised by the co-investment partners making it a combined S$200 million of investments into early-stage startups over the next eight years.

As a part of this, Accuron MedTech Group (Accuron MedTech), Southeast Asia’s largest medical device company, announced that will invest up to S$10 million in Singapore’s Health and Biomedical Sciences sector and the investments will be matched by SSC, making a total of S$20 million of new funds for deep tech startups in healthcare. The investment will be made through the MedTech Alliance 2 (MTA2), a consortium of Economic Development Innovations Singapore (EDIS), Accuron MedTech and Mr. Lu Yoh-Chie (LYC), the founder of Biosensors.

“While I see a lot of promising research conducted in Singapore, there is a distinct gap in the translation of these deep technologies to commercialization. Partnering SSC to co-invest in these deep tech startups would provide us with capital and leverage to focus on bridging this gap with our domain expertise, extensive networks and deep knowledge of the markets, says Mr Lu Yoh-Chie, former Executive Chairman of Biosensors International and a Partner in the MedTech Alliance 2 (MTA2) consortium.”

In the last four years, Accuron MedTech has made more than 10 strategic investments in highly innovative, category disruptive technology start-ups, including renal disease companies Advent Access and AWAK Technologies, and ophthalmic company Peregrine Ophthalmic – that have the potential to revolutionize healthcare and transform the paradigm of patient treatment.

Mr. Abel Ang, Group Chief Executive of Accuron MedTech, said: “As a leader in medical technology, Accuron MedTech is proud to partner with SPRING to be a mentor, and provide the network, resources and financial support to help technology entrepreneurs bring their innovations to a global market.”

3D dental printing company Structo is an example of a deep tech AME company, which obtained investment from SSC and appointed partner Wavemaker. Mr Huub van Esbroeck, Founder and CEO of Structo, said, “It was challenging finding investors who were willing to invest in high-tech hardware startups, which are relatively capital-intensive compared to software, e-commerce and fintech enterprises. SSC and Wavemaker’s joint investments in our investment rounds helped fund our new materials formulation lab and marketing efforts for the launch of our latest 3D printer. They have also introduced us to potential customers, advisors and mentors to help us be better prepared to go to market.”

Dr Frank Levinson, Founder & General Partner of Small World Accelerator (SWA), added, “Having started and invested in nearly 20 companies in Singapore in the areas of photonics, sustainability, renewable energy, advanced materials and manufacturing technology through a National Research Foundation (NRF)-backed incubator, I have seen how public-private partnerships can provide solid pathways to bring new ideas to full commercialisation. With our newly created accelerator, we look forward to partner SSC to co-invest in more of these promising startups.”

Co-founder, Author and Editor, biotechin.asia, Biotech Media Pte. Ltd.
Laxmi graduated from University of Mumbai, India (Bachelors in Biotechnology and Biochemistry and Masters in Biochemistry) in 2007 and received her Ph.D in Virology from Nanyang Technological University, Singapore. She worked on the process of assembly of respiratory syncytial virus in macrophages and epithelial cells and has several papers to her credit.